Always Negative Responses When I Talk About Real Estate
I'll never understand why 99% of the time people have negative responses when I tell them I am trying to get into real estate and rental properties. I mean literally every time I tell someone about it I get one of the following responses:
"You think you do, but you don't"
"It's not easy"
"You'll end up with horrible tenants and want to get rid of it"
"What happens when your tenant doesn't pay? You can't get them out of the house"
"What happens when the economy falls to pieces and you can't rent the property"
Like, yes I get it, it's not an easy industry. I never said it was. I understand that being a landlord isn't the most glamorous job in the world and a lot of people fail at it....even the people who have given me those responses. Everyone I talk to has either had rental property that they hated, or knows someone that hated it.
I don't understand what they expect me to say to these responses? "Okay, now that you've told me that it's hard, I'm definitely not going to do it".
I think there is a lot of ignorance to the industry. I think a lot of people come into the industry ill-prepared and fail at it and there is this persona of how horrible it is to own real estate. Even when I give them responses to these questions such as:
"I know it's not easy, but if you don't take a risk, there is no reward"
"Well I plan on thoroughly screening my tenants to mitigate the risk"
"I will evict the tenant if they don't pay by following the processes set forth by local legislation"
"I plan on having multiple exit strategies"
It doesn't matter what you say to the nay-sayers, they still think you're crazy for even trying to get into it and that failure is a certainty.
But I just use it as fuel to work even harder at it. I look forward to seeing them later on and telling them how well I am doing at it. I am not satisfied just working my job and collecting a pay check (i love my job and I have a very good career). I just need more.
Sorry for the rant, but it's just frustrating how many people want to see you fail at real estate because they heard it's not easy.